Experia Markets Review – 5 things you should know about experiamarkets.com

Beware! Experia Markets is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

“We deliver success to our traders” is the promise Experia Markets makes to its potential clients. We investigate whether this promise may come to the truth or not.

Experia Markets Regulation and safety of funds

The first thing to do when selecting a forex broker to trade with is to find whether this broker is registered and licensed. From the Experia Markets website, we found out that the address of the company is in St. Vincent and the Grenadines (SVG) which is an offshore zone for forex trade. A year ago, the Financial Services Authority in this jurisdiction issued a warning that it does not regulate forex and CFDs brokers. The fact that Experia Markets is not regulated does not make it safe to trade with because there is no guarantee whatsoever for the safety of clients’ funds. 

There are many licensed and regulated brokers that you can choose from and we recommend exploring our links that will lead to reliable brokers from the well-established jurisdictions of the EU, the UK and the US. We recommend these jurisdictions because forex brokers are strictly regulated there and there are many measures set in place to guarantee the safety of clients funds. First of all, brokers must be well-capitalised and they must invest substantial amounts of money in the form of initial capital. In the EU and the UK, this amount is 730,000 EUR and in the US it is an astonishing $20 million. In all the jurisdictions that we mentioned, brokers must comply with the requirements of keeping clients’ funds segregated from broker’s, report transactions on a regular basis to avoid shady deals, provide protections against negative balance, etc. In addition to that, in the EU and the UK, brokers must participate in compensation funds or schemes which serve to compensate clients in case their broker is found insolvent. In the UK, brokers regulated by FCA must deduct funds towards the local Financial Services Compensation Scheme which can reimburse clients up to 85,000 GBP per client if the broker goes bankrupt. On the other hand, clients of a broker regulated by CySec will get compensation of up to 20,000 EUR per client but only if the broker participates in the local Investor Compensation Fund.

Clients of US-licensed brokers do not enjoy the benefits of compensation funds or schemes as they are not available in the US. However, by being well-capitalised US brokers are still able to provide protection to their clients’ funds in case of unfavourable events.

Experia Markets Trading software

Experia Markets is a forex broker trading in forex, indices, CFDs and metals. As per the information on its website, we understand that the trading software offered to the traders is the MetaTrader 4 trading platform. Normally we would congratulate the broker for the choice of such an excellent platform. However, the links for opening a trading account with Experia Markets do not work which is very disappointing as we cannot check how the platform is set by this broker. In addition to that, the link for the Terms and Conditions does not work either, so when registering a trading account, clients will have to blindly click on the ‘agree with the terms and conditions’ button without having the slightest idea what these terms and conditions are.

The only information available for us to comment on is that the leverage offered by the broker is 1:500 which is also visible in the account types information (image below). Such high leverage signifies only two things – a big win or a big loss. On the surface, it looks like this high leverage amplifies the potential for making a big profit. However, such an impression is misleading given the fact that around 70% of traders lose in transactions. What is likely to happen in reality is traders experiencing a substantial financial loss amplified by the high leverage which increases the risk exposure. We do not recommend trading by using high leverage for the sake of your hard-earned money. Also, we want you to be aware that licensed brokers in the jurisdictions we mentioned in the previous sections have capped leverage which in the EU and the UK cannot exceed 1:30 and in the US, 1:50. This is one of the precaution measures for protecting clients’ funds that these brokers provide.

MetaTrader 4 that Experia Markets supposedly offers is one of the best trading platforms and despite its ‘old age’ of 15 years, it is still very popular with forex brokers largely due to one of its key features which is its charting options that offer a large number of charts, time frames, colours and even the option of creating customised templates. MT4 also posses an excellent array of technical analysis indicators that help traders predict the future direction of exchange rates and make a profit. Other advantages of MT4 consist of the excellent trading tools and instruments that the platform is equipped with among which we can mention the auto trading option, code base with customs scripts, the app market, trading signals, VPS, etc.

Experia Markets Deposit/Withdrawal methods and fees

Experia Markets offers 3 trading accounts (image below) – Standard, Swap Free and Platinum. The minimum initial deposit for the Standard account is $500. This may not look like such a huge amount but we want you to know that many licensed brokers will ask for as little as $1-5.

The payment methods for deposits and withdrawals consist of payments via credit card, WebMoney, bank transfer and Neteller. From the information on its website, we see that this broker does not charge deposit/withdrawal fees and the time to process a withdrawal request is maximum 1 business day.

How does scam work?

A lot of people get scammed every day, not because they are naive or stupid, but because scammers are inventive and they are masters of manipulation. Often, as you scroll up and down on the Internet or social media, you come across ads for a quick and easy profit which sometimes sound too tempting not to fall into their traps. So you deposit some money into the account and what happens next is the incessant calls of the scammers. First, they congratulate you for taking the first steps towards becoming rich and next, they try to convince you to invest even more money into their ‘profitable’ business. What you probably don’t know is that your money has just gone as a commission to some scammers. And so, you wait and build the sandcastles of your dreams for a better and ‘richer’ future. And you wait, and you wait, for the money to come. But where is it? Now is your turn to call the scammers and to ask what’s going on. They try to placate you and ask you to be more patient. But have had enough and all you want is to get your money back. The scammers kind of promise, but now they are asking you to provide this document or fill out that form, etc., etc., all done in an attempt to delay you from filing for a chargeback.

What to do if scammed?

If this happens to you, our advice is to act immediately and if you have paid your deposit via credit/debit card, to file for chargeback which is retroactive cancellation and refund of your previous transaction. Visa and MasterCard give you 540 days time limit to file for chargeback which gives you a fighting chance to recover your money.
However, if you have used bitcoin or bank wire for your payment, the chances of you recovering your money are really slim.
Whatever you do to recover your funds, beware of the so-called recovery agents. Please make sure that you are dealing with a genuine one by checking their credentials and company’s information transparency. Otherwise, you may fall victim to another form of scam.
Cancelling your credit/debit card in case you have given the scammers your CVV code may be another good idea. Also, make sure to remove from your PC any software that my give scammers access to your private data stored on your computer.